Property-centric technology solutions provider Aspen Grove Solutions (AGS), based in Frederick, Maryland, has announced the addition of Levittown, Pennsylvania-based property preservation and repair company Guardian Asset Management has been added to AGS' list of clients.
Read More »Foreclosure Inventory, Completions Continue Decline Toward Pre-Crisis Levels
Foreclosure inventory also fell substantially year-over-year in March, declining by 25.7 percent down to about 542,000 mortgages (about 1.4 percent of all mortgages nationwide) – marking the 41st consecutive month of year-over-year declines, according to CoreLogic. In March 2014, there were about 729,000 residential homes, or 1.9 percent of mortgages nationwide, that were in some stage of foreclosure.
Read More »Legislation in New Jersey, Ohio Aimed at Expediting Lengthy Foreclosure Process
A similar bill was re-introduced in the Ohio State House of Representatives last month by Cheryl Grossman, a Republican, and Michael Curtin, a Democrat. Among other provisions, Ohio HB 134 allows the mortgagee to bring a summary foreclosure action against a vacant and abandoned residential property.
Read More »Report: Senator Drafting Proposal to Reform Federal Reserve
Senator Jack Reed (D-Rhode Island) has reportedly included in the draft of the legislation a provision that would make the appointment of the president of the Federal Reserve Bank of New York subject to Senate approval. Currently, the president of each of the 12 regional Federal Reserve Banks is selected by a search committee and subject to approval of the Federal Reserve Board of Governors.
Read More »House Committee Issues Subpoenas to DOJ, Treasury, New York Fed
The Committee is accusing the U.S. Department of Justice, the Treasury Department, and the Federal Reserve Bank of New York of obstructing active investigations by withholding crucial information. According to the Committee's announcement, the three agencies were warned that their failure to comply with the Committee's request to turn over the information would result in the issuance of subpoenas.
Read More »Judge Finds Nomura Liable For Selling Toxic Mortgage-Backed Securities To GSEs
The nearly two-month long court battle between the Federal Housing Finance Agency (FHFA) and Nomura Holdings came to an end Monday when a federal judge found the bank liable for selling shoddy mortgages to Fannie Mae and Freddie Mac prior to the 2008 financial crisis.
Read More »Signs Indicate More Wage Growth is Coming, But It Can Still Be Tough to Accurately Predict
Knotek states in his report that despite recent signs pointing to an imminent increase in worker compensation, factors such as slack in the labor market, bargaining power, worker productivity, inflation, and many other variables and factors, make wage growth impossible to accurately forecast.
Read More »Auction.com Welcomes New VP of Engineering
California-based online real estate marketplace Auction.com has named Bin Xu as VP of engineering for the company's Silicon Valley office, according to an announcement from Auction.com.
Read More »FDIC Director Submits Resignation Effective June 5
Federal Deposit Insurance Corporation (FDIC) Director Jeremiah O. Norton has resigned from that position effective June 5, according to an announcement from the FDIC.
Read More »New York Appeals Court Revives CDO Fraud Suit Against Goldman Sachs
The suit was dismissed by the Appellate Division of the New York Supreme Court in May 2013 on the grounds that ACA Financial, as a "highly sophisticated commercial entity" should have done its research on the securities before purchasing
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